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Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (98,736) $ (120,516)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21,590 7,410
Stock-based compensation expense 43,312 24,173
Loss on disposal of assets 32 63
Loss on extinguishment of long-term debt 0 496
Amortization of debt issuance costs and discount 2,107 846
Noncash lease expense 2,312 1,479
Noncash (income) expense associated with liability-classified warrants (13,482) 39,424
Change in the fair value of contingent consideration 200 0
Accretion of marketable securities purchased at a discount (421) 0
Deferred income taxes 1,167 (3,707)
Changes in operating assets and liabilities:    
Accounts receivable (30,752) (10,601)
Contract assets (6,960) 1,969
Inventories (17,635) (12,226)
Prepaids and other current assets (17,173) (1,871)
Other non-current assets 3,281 0
Trade payables (1,625) (4,497)
Accrued expenses (3,530) 2,769
Employee benefits payables 2,519 1,234
Contract liabilities 26,404 25,031
Other current liabilities 2,310 (92)
Non-current lease liabilities (2,551) (1,258)
Other non-current liabilities 39 (3)
Net cash used in operating activities (87,592) (49,877)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, equipment and software (27,419) (11,447)
Cash paid for acquisition, net of acquired cash and restricted cash (65,824) 0
Purchases of marketable securities (179,853) 0
Repayments of marketable securities 240 0
Net cash used in investing activities (272,856) (11,447)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of stock options and public warrants 4,278 2,790
Proceeds from Employee Stock Purchase Plan 3,149 0
Proceeds from sale of employees restricted stock units to cover taxes 28,587 0
Minimum tax withholding paid on behalf of employees for restricted stock units (28,308) 0
Tax payment for net settled option shares (444) 0
Payment of contingent consideration (5,500) 0
Finance lease principal payments (193) 0
Proceeds from long-term revolving line of credit 0 15,000
Proceeds from long-term secured term loan 0 98,895
Repayments on long-term revolving line of credit 0 (15,000)
Proceeds from Business Combination and PIPE Investment, net of transaction costs 0 730,452
Repurchase of shares and options from management, net of amount recognized as compensation cost 0 (30,358)
Net cash provided by financing activities 1,569 801,779
Effect of exchange rate changes on cash and cash equivalents 3,091 (599)
Net decrease in cash and cash equivalents and restricted cash (355,788) 739,856
Cash and cash equivalents, and restricted cash, beginning of period 692,075 53,933
Cash and cash equivalents, and restricted cash, end of period 336,287 793,789
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 7,594 1,922
Cash paid for income taxes 2,518 1,765
Unpaid purchases of property, equipment and software 2,476 885
Unpaid transaction costs 0 2,241
Right-of-use assets obtained in exchange for new operating lease liabilities 6,343 349
Net exercise of public and private warrants into common stock 44,739 0
Issuance of common stock for payment of accrued bonus 1,441 0
Warrants assumed as part of Business Combination 0 48,149
Prepaid expenses assumed as part of Business Combination $ 0 $ 186